SUMMARY
Many agritech startups are now determined to offer solutions that bestow Indian farmers the vision to predict and prepare for what’s next to come
Cropin helps predict weather patterns and build early warning systems to warn farmers about everything under the sun from the cost of fertilisers going up to complaints of infestations nearby
Indian agritech sector is poised for big growth with a projected market opportunity of $24 Bn by 2025
Even after making significant strides on the back of technological advancements, India’s farming sector continues to be at the mercy of erratic weather conditions.
But many agritech startups are now determined to turn this around by offering solutions that bestow Indian farmers the vision to predict and prepare accordingly.
Many of these startups offer early warning systems that warn farmers about impending blizzards, erratic rains and even pest infestation.
On the second day of The Makers Summit 2023, Inc42 sat down with key players in the agritech space to talk about the next wave of the agricultural revolution that will have deeptech and cloud computing solutions at its core for the farmers of new India.
However, amid concerns over climate change, which has led to unpredictable weather conditions and higher temperatures, how are Indian agritech startups paving the way for sustainable farming practices?
Understanding the criticality of the question, Cropin’s cofounder and COO Kunal Prasad explained how his startup was engaged in collecting data from multiple sources to fetch insights into local crop patterns.
This helps in dishing out sowing advisories and suggesting best practices to use water efficiently, including the kind of seeds that should be used, Prasad said.
According to the cofounder, Cropin helps predict weather patterns and build early warning systems to warn farmers about everything under the sun from the cost of fertilisers going up to complaints of infestations nearby.
“Knowing about changing weather patterns in advance helps farmers save at least 20-30% of losses happening on the farms. We have demonstrated these technologies across the globe in the last 5-6 years in multiple programmes,” Prasad said.
On the business front, Cropin’s top executive said that the platform helps its procuring partners plan better in terms of which areas to target for production, planning and procurement. Amid the randomness of climate change, the platform claims to help farmers make informed bets based on reliable data.
Citing the example of recent hail storms in several parts of Northern India, Prasad said that their farmers in the region were forewarned. He added that in many cases where there were instances of inclement weather, the startup directed farmers to harvest early and cut down on their losses.
As the space evolves, the spotlight continues to be on farmers and their inherent struggles in increasing their crop output and income.
According to government estimates, agriculture contributed 20.2% GVA to the country’s total economy. Despite the hefty contribution, the sector continues to be marred by lack of erratic weather conditions and other issues.
This untapped opportunity has made Indian agritech startups an attractive bet, with a huge market to look forward to. While Indian agritech startups raised a massive $2 Bn between 2014 and the first half of 2022, the sector is poised for growth with a projected market opportunity of $24 Bn by 2025.
